مجلة أداء المؤسسات الجزائرية
Volume 1, Numéro 2, Pages 122-140

تكلفة رأس المال ومؤشرات إنشاء القيمة دراسة تطبيقية ببورصة الدار البيضاء

الكاتب : بن الضب علي . عيّاد سيدي امحمد .

الملخص

The aim of this study is to analyze some recent studies on the subject of the cost of capital and address of the main models proposed to measure the cost of capital by focusing on the capital assets pricing model CAPM and its assumptions and its relation to the establishment of value and assess the financial performance and discuss the possibility of applying model CAPM on the stock market emerging, especially stock exchanges Arabic (CASABLANCA stock exchange model). The study concluded that the assumptions of equilibrium model of financial assets Unrealized CASABLANCA Stock Exchange in particular and most decision-makers use it as a large, leading to making financial decisions is not correct, which makes the index value creation EVA is not true in the assessment of financial performance because it depends on the cost of capital.

الكلمات المفتاحية

cost of capital, the capital assets pricing model CAPM, indicators of value creation, financial decisions, financial performance.